Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list BIFI and support deposit and withdrawal & Automated Market Making (AMM) on June 15, 2021 (UTC). And its trading pair BIFI/USDT will be available on the same day.
1. Deposit: 02:00 June 15 (UTC)
2. Withdrawal: 02:00 June 15 (UTC)
3. Trading pair: BIFI/USDT;
4. Opening method: Call Auction
a. Call Auction
02:00—05:50 June 15, 2021 (UTC)
Orders can be placed and cancelled
05:50-06:00 June 15, 2021 (UTC)
Orders can be placed but cannot be cancelled
06:00 June 15, 2021 (UTC)
Beefy Finance is a Decentralized, Multi-Chain Yield Optimizer platform that allows its users to earn compound interest on their crypto holdings.
Through a set of investment strategies secured and enforced by smart contracts, Beefy Finance automatically maximizes the user rewards from various liquidity pools (LPs), automated market making (AMM) projects, and other yield farming opportunities in the DeFi ecosystem.
The main product offered by Beefy Finance are the 'Vaults' in which users stake their crypto tokens. The investment strategy tied to the specific vault will automatically increase their deposited token amount by compounding arbitrary yield farm reward tokens back into their initially deposited asset. Despite the name 'Vault' suggests, users' funds are never locked in any vault on Beefy Finance: users can always withdraw at any moment in time.
DeFi applications are unique in the sense that they are permissionless and trustless, meaning that anyone with a supported wallet can interact with them without the need for a trusted middleman. While users have funds staked in a vault, they remain 100% in control of their crypto.
For all the vaults deployed on every blockchain, Beefy Finance has its native governance token $BIFI at its core. Platform revenue is generated from a small percentage of all the vault profits and distributed back to those who stake $BIFI. The supply of $BIFI is limited at 80,000 tokens.
What is Automated Market Making (AMM)?
Automated market making (AMM) can calculate the buying and selling price according to the formula, so as to provide continuous quotation for the market. CoinEx combines AMM with the order book, which means the liquidity pool will be automatically converted into the order book. With the "constant product market maker formula" algorithm in AMM, no matter how large the order book is or how small the liquidity pool is, firm liquidity provision to the market can be guaranteed. Learn more
Fees and Profit
Market supporting automated market making is an AMM market. Compared with normal market, AMM market adopts an independent fees system. The fees for both marker and taker is 0.3%. VIP and market makers will not enjoy any special fees, and using CET for fees deduction is unavailable. All users are qualified to apply for market makers, and 50% of the market's transaction fees will be rewarded to liquidity providers.
Characteristics of AMM
1. Bonus obtainable from automated market making
User’s provided liquidity will be injected into the pool for automated market making. 50% of the market's transaction fees will be rewarded to liquidity providers in terms of the corresponding pool proportion.
2. Daily bonus can be cumulatively withdrawn
The transaction fee bonus will be calculated once a day and automatically credited into the user's Market Making Account before 4:00 (UTC) the next day. The user can obtain all the accumulated fee bonus after removing liquidity.
3. Free access, no charge required
Assets between Spot Account and Market Making Account can be transferred in real time by adding and removing liquidity. Each user in a single market can increase liquidity twice a day, and no fees will be charged during the operation.
The assets in the Market Making Account will be injected Into the liquidity pool for automated market making. When the price fluctuates, there will be impermanent losses, and the amount of the two assets will change when the liquidity is removed. More details about impermanent losses
June 15, 2021
Follow us Facebook | Twitter | Reddit
Contact us Support | Telegram
About us Website | Announcements | APP